New Jersey Sports Betting News - Casino Industry Blog: NJ Sports Betting Generated $540 million in January 2020

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C Costigan
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Find the latest news pertaining to sports betting and other forms of gambling in the state of New Jersey.  Despite NJ's success, there are some cons.  First, you can't bet on state schools or games they are playing in.  This matters a lot come college basketball season.  Fairleigh Dickinson slipped into the March Madness tournament last year, but it's the Seton Hall Pirates who basketball fans in the Garden State want to bet on. 

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NJ Sports Betting Generated $540 million in January 2020

(February 13, 2020) - Via Stephen Edelson of the Asbury Park Press, New Jersey generated a total handle of $540 million in January 2020. That’s a 185-percent bump over January 2019. Wagering on sports produced gross revenues of $53.6 million in January 2020, nearly tripling last January’s $18.8 million. New Jersey realized tax revenues of $6.6 million for the month.

Of the gross handle of $540 million, more than $470 million was wagered online.


$562 Million in Sports Bets Last Month in NJ

(December 13, 2019) - New Jersey reported that they handled $562 million in sports wagers in the month of November, breaking the record for the biggest ever monthly handle.

The state created the record of the highest athletic wagering handle in October this year when oddsmakers received bets worth $487.9 million. In November, it broke the record with over $562.6 million in wagers. The house got a net win of $32.9 million, just a little shy of 6%.

Source: GoldenCasinoNews

New Jersey's Mobile Betting Market Bigger Than Ohio's Entire Casino Market

New Jersey’s online gambling platforms generated $67.3 mm in revenue in September, according to figures from the New Jersey Division of Gaming Enforcement.  Much of this is a result of the new football season, but includes Web casino games such as slots and blackjack as well as poker.

NJOnlineGambling.com compared New Jersey's mobile numbers to that of Ohio's four Las Vegas-style casinos. These generated $68.3 mm in gaming revenue, just $1 mm off from New Jersey’s mobile totals. 

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